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Google is a technology company whose mission is to “organize the world’s information and make it universally accessible and useful,” according to its website. Founded in 1998 and headquartered in Mountain View, California, it is one of the most innovative companies in the modern technological age.
Google has continued to grow in sectors that include search engines, advertising, science, entertainment, and autonomous vehicles since it was broken out into Google and the parent company Alphabet. Its competitors vary due to its cross-cutting products and services.
Key Takeaways
- Alphabet is the parent of Google and one of the world’s largest companies.
- Google’s main business segments include Internet search, media and entertainment, self-driving cars, and technologies.
- Google dominates the search engine market with more than 91% of global online search volume.
- Google’s competition varies because of its cross-cutting products and services.
- Some of its main competitors include streaming services like Netflix and Hulu, as well as autonomous car makers like Nissan and Tesla.
Google’s Competitors: Search
Google is nearly a monopoly in the online search arena with more than 91.61% of the online search market and volume as of December 2023. This dominance leaves little room for competitors that are trying to outsmart and outperform the search engine that generates its revenue through ads.
The second largest search engine and Google’s main competitor is Microsoft’s Bing with 3.38%, followed by Yandex with 1.65%.
Google is banned from conducting business in some countries such as China. The number one search engine there is Baidu, which controlled 0.96% of the worldwide market at the close of 2023. Baidu controlled about 67.46 % of China’s market share as of September 2023.
Google’s Competitors: Entertainment
Google acquired YouTube in 2006 for $1.65 billion and then ramped up the entertainment and video content platform. YouTube brought in $7.95 billion in advertising revenue in the third quarter of 2023.
The demand for online streaming platforms and services has grown exponentially since 2006. YouTube’s main competitors include:
The platform also competes for eyeballs with social media platforms including Facebook, Instagram, X (formerly Twitter), and LinkedIn.
Google’s Competitors: Autonomous Vehicles
Waymo has been one of the most mysterious yet buzzed-about subdivisions of Google. Otherwise known as Google’s autonomous vehicle project, it’s empowered by the idea of creating a world that can be transformed by self-driving cars,
Waymo has reiterated itself since 2009 to launch a safer vehicle that can reduce traffic accidents and reshape urban transportation. Google’s competitors in this competitive and secretive space include Uber, Tesla, Nissan, Tesla, General Motors, and the Microsoft/Volkswagen partnership.
Google’s Competitors: Technology Industry at Large
Google also competes with database pioneer and technology services giant Oracle, software company PTC, semiconductor giant Intel, independent software company CA Technologies, software company Compuware, American semiconductor company EMC, software company Red Hat, and network optimizer F5 Networks.
Other Google competitors in this segment include:
- IP protocol device manufacturer Cisco Systems
- Multinational technology company Hewlett-Packard
- Computer security company Symantec
- Fisk management and bond rating company Moody’s Investor Services
- American technology icon IBM
- Cloud computing and customer relationship company Salesforce
- Microsoft
All of them are major players in the technology industry overall.
What’s the Difference Between Google and Alphabet?
Alphabet is a technology holding company that was created by the founders of Google in 2015. It’s the parent company of Google and several other subsidiaries. The move was intended to create a large multinational tech company and allow Google to slim down by transferring several key companies to Alphabet.
What Companies Does Alphabet Own Other Than Google?
Google is just one of the companies owned by Alphabet. Others include Verily, Calico, and CapitalG. These companies are owned directly by Alphabet but others also fall under the Google umbrella, including Fitbit, Nest, and YouTube.
How Can I Invest in Google?
You can invest in Google by purchasing shares in the parent company, Alphabet. The company’s Class A shares trade under the ticker symbol GOOGL. These shares make up the company’s common stock and provide shareholders with voting rights.
Alphabet also has a set of shares without voting rights. These are Class C shares that trade under the ticker symbol GOOG.
Investors can purchase shares directly through a brokerage or trading account or they can invest in the company by buying shares of mutual funds and exchange-traded funds.
The Bottom Line
Once its own entity, Google is held by its parent company Alphabet in 2024. Google is among the largest and most commonly used search engines in the world.
Search makes up the bulk of its business but the Alphabet subsidiary has its hand in other business segments, including entertainment, self-driving cars, and technology. You can invest in Google by purchasing common or preferred shares of Alphabet or by buying mutual funds and exchange-traded funds that invest in the company.